ICELAND IS LOOKING FOR OIL AND GAS IN THE NORTH ATLANTIC OCEAN Effort is Concentrated in Water Depths Ranging from 3280 to 6562 ft. (1000 to 2000 m)

摘要

Up until now, Iceland has not been an oil and gas country for several reasons. First of all, consider its geographical position. The island is located on the mid-Atlantic Ridge, just south of the Arctic Circle. That makes access difficult if not - up until recent times - impossible to perform offshore exploration and production. Then, consider the low demand for fossil energy. Some 70% of the total energy needs" are covered by hydro and geothermal sources, with a peak of 99% in the power generation field. Only land and sea transportation require crude oil derivative fuels.